SHELL Token Rises 35%, Sets Record High After Announced by Binance!

Jakarta, Pintu News – MyShell’s native token, SHELL, hit a new record high after Binance announced it will hold an airdrop ahead of the token’s listing on February 27.

Binance has organized an airdrop event through Binance HODLer for users who own Binance Coin (BNB) participating in Simple Earn and/or On-Chain Yields products from February 14 to 18.

This airdrop is scheduled to take place one hour before trading begins. SHELL will be officially listed on Binance starting at 13:00 UTC on February 27.

Check out the full news below!

SHELL Price Spike

Following Binance’s listing announcement, SHELL’s price surged to a new high of $0.68, up more than 35% in the last 24 trading hours. Currently, SHELL is trading at $0.65, showing a gain of over 30%.

In the past week, SHELL has risen nearly 60% and is up 36% in the past hour. With a market capitalization of $175 million and a full valuation of $650 million, SHELL shows significant growth potential.

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SHELL Airdrop Distribution and Plan

Binance has prepared 25 million SHELL tokens for the HODLer Airdrop event, which is about 2.5% of the total initial token supply. At listing, 270 million SHELL tokens will be in circulation on Binance.

A second airdrop event will be held at the end of the third month, and the same number of tokens will be allocated. SHELL will be available for trading on the Ethereum (ETH) network and BNB Chain, with Binance adding a seed tag for SHELL to indicate higher trading risk.

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SHELL Utilities and Tokenomics

SHELL is a governance token that powers the MyShell ecosystem, provides access to the platform’s premium features, supports creators, and facilitates payments. Of the total token supply, 30% is allocated for community incentives, 29% for private sales with a one-year grace period, and a three-year opening period.

In addition, 1% is allocated for Binance Wallet airdrops and 5% for Binance HODLer airdrops. This shows MyShell’s commitment to growing its community and increasing token adoption.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Shell Reaches New All-Time High After Binance Listing Notice on Feb 27. Accessed on February 28, 2025
• Featured Image: NFT Gators